Kerry Properties Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Kerry Properties (HKG:683) Full Year 2024 Results

Key Financial Results

• Revenue: HK$19.5b (up 49% from FY 2023).
• Net income: HK$808.0m (down 75% from FY 2023).
• Profit margin: 4.1% (down from 25% in FY 2023).
• EPS: HK$0.56 (down from HK$2.24 in FY 2023).

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All figures shown in the chart above are for the trailing 12 month (TTM) period

Kerry Properties Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 65%.

The primary driver behind last 12 months revenue was the Mainland Property segment contributing a total revenue of HK$12.8b (66% of total revenue). Notably, cost of sales worth HK$13.1b amounted to 67% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling HK$3.93b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how 683's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate industry in Hong Kong.

Performance of the Hong Kong Real Estate industry.

The company's shares are up 5.8% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 4 warning signs with Kerry Properties (at least 2 which are significant), and understanding these should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.